Could Hi-Crush Partners LP (HCLP) Change Direction After This Ascending Triangle

December 8, 2017 - By Adrian Erickson

Investors sentiment decreased to 1.66 in 2017 Q2. Its down 0.41, from 2.07 in 2017Q1. It is negative, as 22 investors sold Hi-Crush Partners LP shares while 16 reduced holdings. 27 funds opened positions while 36 raised stakes. 44.46 million shares or 4.19% less from 46.41 million shares in 2017Q1 were reported.
Kayne Anderson Advisors L P holds 0.13% or 1.01 million shares in its portfolio. Washington-based Evergreen Cap Mgmt Ltd has invested 0.16% in Hi-Crush Partners LP (NYSE:HCLP). Deutsche Comml Bank Ag stated it has 101,200 shares. Citigroup accumulated 1.78 million shares. Next stated it has 13,575 shares. Bronson Point Management Ltd Liability Co reported 525,000 shares stake. Wellington Group Incorporated Llp holds 120,319 shares. L S Advisors accumulated 51,375 shares or 0.1% of the stock. 62,500 are owned by Jefferies Group Ltd Liability Co. North Star Mngmt Corporation holds 3,000 shares. Creative Planning stated it has 0% in Hi-Crush Partners LP (NYSE:HCLP). Peconic Prns Ltd Liability reported 0.19% stake. Stifel Corp has 0% invested in Hi-Crush Partners LP (NYSE:HCLP) for 27,238 shares. Hite Hedge Asset Management Limited Liability Company holds 2.13% of its portfolio in Hi-Crush Partners LP (NYSE:HCLP) for 587,625 shares. Group Inc One Trading Ltd Partnership reported 101,979 shares or 0.01% of all its holdings.

The stock of Hi-Crush Partners LP (HCLP) formed an ascending triangle with $9.49 target or 6.00 % below today’s $10.10 share price. The 8 months triangle pattern indicates high risk for the $919.41 million company. If the $9.49 price target is reached, the company will be worth $55.16M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 1.00% or $0.1 during the last trading session, reaching $10.1. About 1.38 million shares traded. Hi-Crush Partners LP (NYSE:HCLP) has risen 114.79% since December 8, 2016 and is uptrending. It has outperformed by 98.09% the S&P500.

Analysts await Hi-Crush Partners LP (NYSE:HCLP) to report earnings on February, 20. They expect $0.53 EPS, up 581.82 % or $0.64 from last year’s $-0.11 per share. HCLP’s profit will be $48.25 million for 4.76 P/E if the $0.53 EPS becomes a reality. After $0.32 actual EPS reported by Hi-Crush Partners LP for the previous quarter, Wall Street now forecasts 65.63 % EPS growth.

Hi-Crush Partners LP (NYSE:HCLP) Ratings Coverage

Among 17 analysts covering Hi-Crush Partners (NYSE:HCLP), 10 have Buy rating, 4 Sell and 3 Hold. Therefore 59% are positive. Hi-Crush Partners had 49 analyst reports since July 24, 2015 according to SRatingsIntel. The firm has “Hold” rating by Wunderlich given on Monday, May 2. The stock has “Buy” rating by Cowen & Co on Friday, August 4. The firm has “Buy” rating by Jefferies given on Monday, August 28. Jefferies maintained Hi-Crush Partners LP (NYSE:HCLP) rating on Tuesday, September 13. Jefferies has “Buy” rating and $21 target. The rating was initiated by DA Davidson with “Buy” on Monday, December 7. UBS upgraded Hi-Crush Partners LP (NYSE:HCLP) on Tuesday, April 4 to “Buy” rating. The stock of Hi-Crush Partners LP (NYSE:HCLP) has “Strong Buy” rating given on Wednesday, June 15 by Raymond James. On Wednesday, June 1 the stock rating was upgraded by Credit Suisse to “Outperform”. Robert W. Baird downgraded the shares of HCLP in report on Monday, August 10 to “Outperform” rating. UBS maintained Hi-Crush Partners LP (NYSE:HCLP) on Monday, September 28 with “Buy” rating.

More recent Hi-Crush Partners LP (NYSE:HCLP) news were published by: Globenewswire.com which released: “Hi-Crush Partners LP to Participate in Upcoming Investor Conferences” on November 21, 2017. Also Seekingalpha.com published the news titled: “Hi-Crush: Just Buy Already” on December 04, 2017. Streetinsider.com‘s news article titled: “B.Riley/FBR Starts Hi-Crush Partners LP (HCLP) at Buy” with publication date: December 06, 2017 was also an interesting one.

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